WASHINGTON — The U.S. government's deficit in the first three months of the budget year was a record-breaking $572.9 billion, 60.7% higher than the same period a year ago, as spending to deal with the COVID-19 pandemic surged while revenue declined.
WASHINGTON — The federal budget deficit hit an all-time high of $3.1 trillion in the 2020 budget year, more than double the previous record, as the coronavirus pandemic shrank revenues and sent spending soaring.
WASHINGTON — The U.S. government's war against the coronavirus is imposing the heaviest strain on the Treasury since America's drive to defeat Nazi Germany and imperial Japan three-quarters of a century ago.
WASHINGTON — The federal government, which ended the 2019 budget year with its largest deficit in seven years, began the new budget year with a deficit in October that was 33.8% bigger than a year ago as spending hit a record.
The State Legislature did not provide additional funding this session for the University of Hawai’i Cancer Center which is operating with an annual 13-million dollar deficit. As HPR’s Wayne Yoshioka reports, the center will be a top priority when lawmakers meet next year, because the state stands to lose much more than a research facility.